Housing finance activity slides in June

Housing finance activity declined again in June, according to the latest figures from the Australian Bureau of Statistics (ABS), off the back of the slowing housing market.

The total value of home loans written in Australia fell 1.9 per cent in June to $20.710 billion, seasonally adjusted, the ABS figures showed.

Total loans for owner occupied homes fell 3.9 per cent, month-on-month, to be down by 28 per cent compared to one year ago.

First home buyer commitments as a percentage of all loan commitments also fell to 16 per cent, compared to 27.1 per cent in June 2009, when the boost to the first home owner grant was still in full swing.